Lam Research Co. (NASDAQ:LRCX) Shares Bought by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC lifted its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 2,112.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,389 shares of the semiconductor company's stock after purchasing an additional 27,106 shares during the quarter. Crestwood Advisors Group LLC's holdings in Lam Research were worth $23,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of the stock. Fortitude Family Office LLC grew its stake in Lam Research by 16.7% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company's stock valued at $67,000 after buying an additional 9 shares during the last quarter. Thomasville National Bank raised its stake in shares of Lam Research by 1.5% in the second quarter. Thomasville National Bank now owns 812 shares of the semiconductor company's stock worth $865,000 after acquiring an additional 12 shares during the last quarter. Ignite Planners LLC boosted its holdings in Lam Research by 2.8% in the second quarter. Ignite Planners LLC now owns 445 shares of the semiconductor company's stock valued at $484,000 after acquiring an additional 12 shares during the last quarter. U.S. Capital Wealth Advisors LLC grew its holdings in Lam Research by 3.7% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 335 shares of the semiconductor company's stock worth $357,000 after acquiring an additional 12 shares during the period. Finally, RFP Financial Group LLC boosted its stake in Lam Research by 52.2% during the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company's stock worth $37,000 after acquiring an additional 12 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Insiders Place Their Bets

In other news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the transaction, the chief accounting officer now directly owns 4,267 shares of the company's stock, valued at $3,488,315.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.29% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

LRCX has been the topic of a number of recent research reports. BNP Paribas raised Lam Research to a "hold" rating in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft cut their price target on Lam Research from $110.00 to $95.00 and set a "buy" rating for the company in a research note on Thursday, August 1st. StockNews.com cut shares of Lam Research from a "buy" rating to a "hold" rating in a report on Friday, October 11th. Stifel Nicolaus reiterated a "buy" rating and issued a $100.00 target price (down from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Finally, UBS Group cut their price objective on shares of Lam Research from $125.00 to $115.00 and set a "buy" rating on the stock in a research report on Thursday, September 12th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $97.03.

Lam Research Stock Up 3.0 %

Lam Research stock traded up $2.23 during mid-day trading on Tuesday, reaching $76.40. 7,999,052 shares of the company's stock were exchanged, compared to its average volume of 11,263,081. The company has a fifty day moving average of $77.83 and a 200-day moving average of $88.73. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. Lam Research Co. has a twelve month low of $62.81 and a twelve month high of $113.00. The company has a market cap of $98.30 billion, a P/E ratio of 24.69, a P/E/G ratio of 1.19 and a beta of 1.48.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.81 by $0.05. The business had revenue of $4.17 billion for the quarter, compared to analysts' expectations of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The company's quarterly revenue was up 19.7% on a year-over-year basis. During the same period in the previous year, the company posted $6.85 EPS. Sell-side analysts expect that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend was Tuesday, September 17th. Lam Research's payout ratio is 29.74%.

About Lam Research

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.